Home Buyer

With bargaining power shifting from home buyers to sellers in an increasing number of local markets, buyers in competition with other buyers are looking for any edge they can get. One possible edge is a pre-approval letter (henceforth PAL) from a lender.

If you thought the recent real estate market was unattractive, you'd better look away. Pressed to their walls by their inability to pay their mortgages, scores of home sellers are listing their houses as "short sales."